Regulatory Alerts2025-07-18 | Circular 6/2025Added
Circular 6/2025 — Modifications to Circular 3/2012
The Bank of Mexico modifies the definition of "Payroll-Linked Credit" and amends Articles 2, 22 Bis, 22 Bis 1, 63 Bis, 63 Bis 1, 63 Bis 3, 64, 65, 68, 69, and 81 Bis 2, as well as Annexes 1 and 2 of Circular 3/2012, to simplify the origination and payment processes for payroll-linked credits offered by credit institutions and regulated multiple-object financial societies. The regulation establishes specific requirements for identifying ordering accounts receiving labor benefits, mandates the disclosure of aggregated charges and outstanding balances among institutions, and defines a strict hierarchy for debit orders on these accounts, prioritizing payroll-linked credits over other loans contracted with the same institution. Several provisions regarding documentation for identifying employers and previous derogations are removed to streamline operations.
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